Six Egyptian governmental companies to be raised for sale

The Egyptian privatization committee under the chairmanship of Prime Minister Kamal El-Ganzouri decided to raise shares of six governmental companies for sale during coming month.

The government will sell 10% of El-America for Cement, 10% of Helawan Cement, 25% of Kafr El-Zayat for Insecticides, 20% of El-Nile Medicine, and 11% of El-Sharkia for Smoke in the style of purchase offers in the Egyptian stock market.

ArabicNews.com learned that El-Ganzouri asked the committee for haste in implementing all privatization resolutions and raising the shares of new companies for sale in the interest of ending the privatization program within the time the Egyptian government had allotted for the program.